| 30.07.2009 - IEA says oil price have hit floor around $50-$60 |
| From Reuters: Volatile oil prices have reached a floor of between $50-$60 a barrel and OPEC is unlikely to announce major output cuts in September, a senior IEA oil analyst said on Wednesday. Oil slid below $66 a barrel on Wednesday, extending losses from the retreat of more than $1 the day before, on renewed concerns over the U.S. economy after a drop in consumer confidence and due to industry figures showing a rise in commercial crude oil inventories.........Full Article: Source |